If youโre a parent of a soon-to-be college student โ you know the $$$ is staring you right in the face.
We did some research and found that room and board or rent for their child is upwards of $13,000+ per year.
For. A. Room. ๐ฑ๐ฑ๐ฑ
Hereโs a conversation weโre having with more adults who are entering the empty nest years and are trying to find a way to make college work to their advantage, too!
โซ๏ธThink about ๐๐ต๐ฒ๐ฟ๐ฒ your student will be attending. If itโs local (U of M, U of W, Red River, weโve got the scoop on housing) or if itโs out of the city or province.
โซ๏ธWhat are the ๐ต๐ผ๐๐๐ถ๐ป๐ด ๐ผ๐ฝ๐๐ถ๐ผ๐ป๐ available for you to invest in for your student (and friends/roommates)?
โซ๏ธDoes it ๐บ๐ฎ๐ธ๐ฒ ๐๐ฒ๐ป๐๐ฒ financially for you or your student to purchase a home and charge rent vs. paying someone elseโs mortgage or outrageous rental rates?
โซ๏ธThink of this as a win-win. Your student is in a home that you chose and feel good about, and roommates are paying the mortgage.
โซ๏ธYour money isnโt going down the drain. You have an appreciating asset that you can keep and continue to rent out years after your student graduates, or you can choose to sell and reap the benefits when the time comes.
Rental rates are rising, tuition is expensiveโheck, everything is expensive. If you can find even one way to help your student ๐บ๐ฎ๐ธ๐ฒ ๐บ๐ผ๐ป๐ฒ๐ ๐ฑ๐ผ๐ถ๐ป๐ด ๐ถ๐, itโs a smart move.
If youโre ready to explore this option further, letโs connect and start creating a strategy for a home purchase near your student's college.
And donโt worry, if itโs out of province, we have ๐ฎ๐บ๐ฎ๐๐ถ๐ป๐ด referral partners across Canada who can help you make the same great decision.